09:14 GMT +315 November 2019
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    A car of the Yandex Taxi service in a street of Moscow

    Russian Fund Mulling Investments Into Joint Yandex-Uber Company

    © Sputnik / Natalia Seliverstova
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    In July, Russia-based Yandex and Uber agreed to create a joint taxi business in Russia, Commonwealth of Independent States (CIS) and some countries. The Russian Direct Investment Fund is interested in the project.

    VLADIVOSTOK (Sputnik) — The Russian Direct Investment Fund (RDIF) is considering possibilities of investing in the ridesharing business of Russian IT-giant Yandex and US technology company Uber which are expected to merge in the future, RDIF CEO Kirill Dmitriev told Sputnik on Tuesday.

    "We are actively looking into the technology sector. We have a number of projects worked out in detail… We are still exploring possibilities of investing into Yandex, [meaning] Yandex merged with Uber. The share of technology investment in RDIF will be significantly increased," Dmitriev said on the sidelines of the Eastern Economic Forum (EEF) in the Russian city of Vladivostok.

    The deal between Russia's largest Internet company Yandex and Uber to create a joint taxi business is expected to be finalized at the end of 2017

    The two-day EEF will kick off in Vladivostok on Wednesday and is expected to gather over 3,500 participants from more than 50 countries. The forum will be attended by a number of world leaders including Russian President Vladimir Putin, his South Korean counterpart Moon Jae-in, as well as Japanese Prime Minister Shinzo Abe.

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    Tags:
    investment, Uber, Yandex, Russia
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